INDIANAPOLIS (May 23, 2024) – The Builders Association of Greater Indianapolis (BAGI) just released its April permit breakdown, which shows a tremendous growth trend across much of the Association’s Central Indiana service area.

Comparing April 2023 to April 2024, the Indianapolis metro area housing market experienced a 37% increase, year over year, in the number of permits issued for new single-family homes and a 44% increase year-to-date in 2024 versus 2023.

The market began the year in a growth trend, which has continued for most of BAGI’s nine county service area. Only two counties – Hendricks and Morgan – saw a decline, year over year, in April; however, these declines were minor and a deviation from the growth trend both counties experienced in the first quarter.

“We are excited to see a steady pattern of growth as we near the middle of the second quarter. Even with the slight increase in interest rates, the demand for new single-family homes remains high, particularly in Central Indiana, which is home to several of the top-rated cities in the country,” said BAGI CEO Steven Lains. “Presidential election years are always dicey when it comes to the impact they have on housing markets, so we’re still in a wait and see situation to determine whether the looming presidential election will spark demand or cool things down as potential buyers weigh the risks of buying under current conditions or waiting to see which policies will take hold after November 5th. Whatever this year holds, BAGI members can be certain that we are more committed than ever to helping them level-up their skills, expand their professional network, and grow their businesses.”

Permit Breakdown by County: 

County            2023 Permits (April)  2024 Permits (April) 
Boone County             36 96
Hamilton County             251 324
Hancock County             24 91
Hendricks County             113 96
Johnson County             29 68
Madison County             40 43
Marion County             132 141
Morgan County             32 28
Shelby County             0 14

For further information and access to the full April permit breakdown report, please visit the Builder’s Association of Greater Indianapolis website at https://www.bagi.com/permits.

BAGI remains committed to promoting, educating, and serving its members and the housing industry in the Indianapolis area, and will continue to monitor and support the growth in building permits and overall housing market activity.

For more information about permit numbers, or to discuss local homebuilding trends with Lains or other BAGI officials, contact Kristen Hoyt at 317-527-6774 or kristenh@thecaway.com.